Odu’a Investment targets 50% turnover in five years

Odu’a Investment Company Limited (OICL), is targetting 50 per cent turnover in the next five years, theGroup Managing Director,
Adewale Raji, has said.

He spoke yesterdayat a retreat organised for the management of WEMABOD Estates Limited, at Premier hotel, Ibadan

“Typically, I will say the company at its inception has been maintained solely for the heritage of the Yoruba people. And what is important is that when you have a change of leadership, the company should move to the next level. Our focus is that we should get to the next level and we are in that level by bringing out new things that Yoruba sons and daughters will be proud of and also for the benefit of our people. And we are making the turnover move to 50 per cent in the next five years and that is our traget,” he said

He said with the kind of ambition we have, with the 50 per cent turnaround, we realise we have to do new things to achieve our target. In areas where we have seen our alignment of value, and also in value.

Raji disclosed that to achieve its target, OICL has ventured into a partnership with a Spanish construction company called TODO Contruccion, adding that:” This is to form a joint venture of 50-50 per cent ownership by both parties to sell, import and market in Nigeria building finishes, in terms of Ceramic, tiles, bathroom finishes as well, bath, shower, cubicles, Jacuzzi, doors, frames amog others”

He noted that they will began the partnership from marketing, and later look at the possibility of local production.

The OICL GMD further explained that:” Technically, it is the Spanish companyý that has the connection with about 100 other manufacturing companies, spread across Spain. The view is that we want to be able to get the branded products available for Nigerians, distributors and even private sectors. We are bringing on board, Odu’a Group with these companies. We are bringing market knowledge and at the end we want to ensure we are bringing in new innovations to building finishes in Nigeria”

Speaking on the essence of the WEMABOD retreat, he said the essential thing is for its management to look back at the past and challenge themselves on what they want to do in the future.

“The situation today is that we see a lot of people participating in different sectors of real estate business in Nigeria. I believe they should be able to sharpen their focus in terms of the specific area they want to focus on. They should not focus on everything. They should sharpen their skills on the area they want to play and play there.